Economic Impact of New Jobs Continues Beyond the Company Initial Announcement

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AmmannMichael AmmannPresident at San Joaquin Partnership. Public-private partnership organizational leader with start-up, turnaround & organizational renewal experience in multi-jurisdictional economic development marketing organizations and a metro chamber of commerce.

The San Joaquin Partnership recently announced another successful project moving into San Joaquin USA – Crumb Rubber Manufacturers (CRM), a nationally known company that specializes in the production and supply of crumb rubber for various asphalt rubber technologies.  CRM is moving into the former Hormel food processing facility in Stockton and will initially employ 50 people. Finding a new user for an old facility is the toughest job in economic development.  Hooray! Let’s give a cheer to all those involved in bringing CRM to Stockton for a job well done!

Now let’s step back and realize the long-term benefits of CRM’s San Joaquin location for years to come as they ramp up business, pay annual taxes while growing employment and payrolls up to 100 employees.

Other recent examples of follow-on growth of new company locations include Amazon in Tracy and Patterson which has consistently increased job opportunities; most recently announcing another 700 in Tracy and 200 in Patterson. Newcomer Tesla hasn’t had time to put up a sign or install its supercharging station in Lathrop, but they have put steel up – an expansion to the existing 430,000 sq. ft. building it moved into less than 12 months ago.

These examples further illustrate how the local economy continues to directly benefit from growing employers that create more jobs as well as provide promotion opportunities for existing employees resulting in higher wages for all and results in increased purchases of goods and services in our local communities.

So let’s celebrate the completion of this virtuous cycle from a complex chain of economic events that increases community wealth every time a new hire or promotion occurs.

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